Serbinski Accounting Firms

Hi, I'm leaving the US for Canada next week. I have a 401k with my ex-employer and I want to rollover the money to an IRA... However, I cannot do it before moving out of the US... So, any tax implication in Canada for such a move? Will I have to notify the Canadian governement of that transfer? What...

Hi,

Moving back to Canada in mid-september. I'll have to pay hefty moving expenses myself...

Is it possible to deduct this when filling my last 1040 (fiscal year 2007)?

Thx,

jeff

I agree with you it would stupid to not get the tax benefits if I contribute to my spouse RRSP... So, I should keep the IRA money for me... However, suppose I withdraw 20 000$ from my own RRSP under the HBP plan. At the same time, I withdraw 18 000$ from my IRA where I loose 800$ because of the pena...

Thanks for the info. I'm married... From what I read on the IRS web site, each spouse can withdraw from IRA 10 000$ without penalty for their first house. We never bought any house so we would be eligible. Also, I have a lot of unused RRSP contributions... If instead of doing a "transfer",...

Hi, I'm leaving the US for Canada in mid-september 2007. I will buy a house in Canada in 2008. I have around 18 000$ USD in a 401k plan. I'd like to transfer that money in my spouse RRSP so that she can use it as part of the HBP. I have already 20 000$ in my own RRSP that I can use for the HBP. My s...

Hi, I've been in the US for 2 years now. I'll be leaving the US in mid-september 2007. I don't have a green card and neither I am a US citizen. I am a CND citizen. I will have minimal CND income from mid-september to end of december 2007 because I'm taking a long break. Worst case, I will work 1 mon...

Interesting...

Are you saying that when moving in the US and keeping money in a Canadian bank account and converting that money into US fund later, if there is exchange gain at that moment, that wouldn't be taxed in the US?

Thanks for the info again!

Thanks for the info.

However, what would be the "cost basis" of that gain? The exchange rate of the day I moved back to Canada?

What if I transfer everything in CAD$ the day I move back to Canada? Would I get hit from any tax consequence?

Hi, I'm currently working in the US under H1B but moving back to Canada in mid-september of this year. Because of the current high $CAD and considerable US$ cash on hand, I thought about transfering my US$ into a US-dominated canadian bank account (ex: ING Direct Canada US Account). The reason is I'...